American Tower Corporation $AMT Position Boosted by PDS Planning Inc

Key Points

• PDS Planning Inc increased its stake in American Tower Corporation by 56.4%, bringing its total to 4,481 shares valued at approximately $990,000.
• CEO Juan Font sold 720 shares at an average price of $208.33, resulting in a decrease of 2.98% in his ownership of the stock.
• American Tower's recent quarterly earnings report showed EPS of $2.60, slightly beating estimates, but revenue declined 9.4% from the previous year to $2.63 billion.

PDS Planning Inc lifted its stake in shares of American Tower Corporation (NYSE:AMT - Free Report) by 56.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,481 shares of the real estate investment trust's stock after purchasing an additional 1,616 shares during the period. PDS Planning Inc's holdings in American Tower were worth $990,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. North Capital Inc. bought a new position in shares of American Tower during the first quarter worth about $25,000. Hopwood Financial Services Inc. lifted its position in shares of American Tower by 100.0% during the first quarter. Hopwood Financial Services Inc. now owns 120 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 60 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of American Tower during the first quarter worth about $31,000. Saudi Central Bank bought a new position in shares of American Tower during the first quarter worth about $40,000. Finally, Accredited Wealth Management LLC lifted its position in shares of American Tower by 180.0% during the first quarter. Accredited Wealth Management LLC now owns 210 shares of the real estate investment trust's stock worth $46,000 after purchasing an additional 135 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

Insider Activity at American Tower

In related news, CEO Juan Font sold 720 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $208.33, for a total transaction of $149,997.60. Following the transaction, the chief executive officer owned 23,425 shares in the company, valued at $4,880,130.25. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by corporate insiders.

American Tower Price Performance

Shares of NYSE:AMT opened at $186.60 on Friday. The firm's 50 day moving average is $198.75 and its two-hundred day moving average is $210.81. American Tower Corporation has a 52 week low of $172.51 and a 52 week high of $234.33. The firm has a market capitalization of $87.38 billion, a P/E ratio of 67.85, a PEG ratio of 1.12 and a beta of 0.86. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 3.36.

American Tower (NYSE:AMT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $2.60 EPS for the quarter, beating the consensus estimate of $2.59 by $0.01. American Tower had a net margin of 12.60% and a return on equity of 24.85%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the business earned $2.79 earnings per share. American Tower's revenue was down 9.4% compared to the same quarter last year. American Tower has set its FY 2025 guidance at 10.460-10.650 EPS. Analysts anticipate that American Tower Corporation will post 10.14 earnings per share for the current year.

American Tower Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Tuesday, September 30th will be paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, September 30th. American Tower's dividend payout ratio (DPR) is currently 247.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of American Tower from a "hold" rating to a "sell" rating in a report on Saturday, October 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of American Tower in a report on Wednesday. Hsbc Global Res cut shares of American Tower from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on shares of American Tower from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $245.00 target price (down previously from $250.00) on shares of American Tower in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, American Tower presently has an average rating of "Moderate Buy" and a consensus price target of $242.07.

American Tower Profile

American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of over 224,000 communications sites and a highly interconnected footprint of U.S. data center facilities.

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